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NZ gains a lot of Capital inflow from remittances from citizens on their OE.
Their economy does not have the strength to provide good living wages for all their citizens (as evidenced by the lop sided flow between Oz and NZ).
NZ would be in heaps of trouble if the AU government decided to treat people from East Tasmania differently.
Not all Kiwis make a change for Australia for economic reasons, that's a myth perpetuated by the media. I have personally known very financially stable people move just for a change. Its no harder to move to a Australian city over another Kiwi city, and there lies the reason I would like to see it made harder for Kiwis to move to Aus (and I am a kiwi)
As for Australia's economy it worries me, -1.2% GDP in the quarter with the Queensland floods, just shows how weak the majority of the economy is when mining is effected.
China is in a massive and I mean massive housing bubble , around 64 million empty apartments, they cant keep building empty cities forever to falsely bump GDP.
As for Australia's economy it worries me, -1.2% GDP in the quarter with the Queensland floods, just shows how weak the majority of the economy is when mining is effected.
I'd say having the third largest city, and one of the most populated areas in Australia flooded and out of action for 3-4 weeks was probably as big a contributor to the weakness.
I'd say having the third largest city, and one of the most populated areas in Australia flooded and out of action for 3-4 weeks was probably as big a contributor to the weakness.
Hmm well here is a thought for you
Christchurch NZ's second largest city (CBD still mostly closed), was hit far harder than Brisbane at the beginning of the year and makes up a slightly higher percentage of the nations population, and yet NZ managed reasonable growth in that quarter, certainly didn't plummet 1.2%.
The mining industry is hiding the fact most of the Australian economy is in a recession, struggling businesses can only hold of for so long until they are forced to lay people off.
With China slowing and wobbling, I see a tipping point for Australia unless the policy makers get there heads out of the sand.
Not all Kiwis make a change for Australia for economic reasons, that's a myth perpetuated by the media. I have personally known very financially stable people move just for a change. Its no harder to move to a Australian city over another Kiwi city, and there lies the reason I would like to see it made harder for Kiwis to move to Aus (and I am a kiwi)
As for Australia's economy it worries me, -1.2% GDP in the quarter with the Queensland floods, just shows how weak the majority of the economy is when mining is effected.
China is in a massive and I mean massive housing bubble , around 64 million empty apartments, they cant keep building empty cities forever to falsely bump GDP.
Agreed there are always exceptions. But it can be generally stated the majority move for better wages or economic opportunity. If wages and opportunities in NZ were better you would not have tens of thousands of kiwis moving across the Tasman yearly. At one point I looked at moving to Auckland (I like Auckland) but the wages were definitely lower for a similar cost of living.
Christchurch NZ's second largest city (CBD still mostly closed), was hit far harder than Brisbane at the beginning of the year and makes up a slightly higher percentage of the nations population, and yet NZ managed reasonable growth in that quarter, certainly didn't plummet 1.2%.
The Brisbane floods were the end of the flooding that had destroyed much of Queensland's crop as well as led to plenty of flooded mines. Add the loss of tourism during the peak holiday season (flooding + cyclones) and it was a perfect storm to three of the biggest industries in Australia (and 1, 2 and 3 in terms of exports). Certainly not just mining. On top of that, Brisbane is an important business centre now. A lot of back office financial services and admin is done in the Brisbane CBD because rents are cheaper than Sydney or Melbourne. Having many workers unable to get to their office for several days and then lost productivity as those workers cleaned up the mess left by the floods would have had an impact on GDP. I'd also argue that the Brisbane CBD is more important to the local economy than the Christchurch CBD. How many key industries of Christchurch are based in the CBD? I honestly don't know the answer to that.
Quote:
Originally Posted by Battleneter
The mining industry is hiding the fact most of the Australian economy is in a recession, struggling businesses can only hold of for so long until they are forced to lay people off.
I don't disagree with you on that, we've been in recession for at least 18 months. However, mining still only accounts for ~5% of GDP in Australia. Agriculture is another ~4% but together the two industries represent 57% of Australian exports. It's the most high profile Australian industry, but it's still relatively small.
The Brisbane floods were the end of the flooding that had destroyed much of Queensland's crop as well as led to plenty of flooded mines. Add the loss of tourism during the peak holiday season (flooding + cyclones) and it was a perfect storm to three of the biggest industries in Australia (and 1, 2 and 3 in terms of exports). Certainly not just mining. On top of that, Brisbane is an important business centre now. A lot of back office financial services and admin is done in the Brisbane CBD because rents are cheaper than Sydney or Melbourne. Having many workers unable to get to their office for several days and then lost productivity as those workers cleaned up the mess left by the floods would have had an impact on GDP. I'd also argue that the Brisbane CBD is more important to the local economy than the Christchurch CBD. How many key industries of Christchurch are based in the CBD? I honestly don't know the answer to that.
I don't disagree with you on that, we've been in recession for at least 18 months. However, mining still only accounts for ~5% of GDP in Australia. Agriculture is another ~4% but together the two industries represent 57% of Australian exports. It's the most high profile Australian industry, but it's still relatively small.
Scales of economy, obviously Brisbane is a much larger city however Christchurch is reportedly 12% of the NZ GDP. Tourism is a large part of the Caterbury economy also, and that was wiped out for months. Christchuch lawyers, banks, accountant, IT coudlnt access there offices for many "months" not weeks. I think the comparison is very valid. I would say about the same percentage of people work in the CBD of both cities.
The Australian government seemed to be far more concerned about mining (economically) than Brisbane itself, and I can see why.
As for Australia's economy it worries me, -1.2% GDP in the quarter with the Queensland floods, just shows how weak the majority of the economy is when mining is effected.
Scales of economy, obviously Brisbane is a much larger city however Christchurch is reportedly 12% of the NZ GDP. Tourism is a large part of the Caterbury economy also, and that was wiped out for months. Christchuch lawyers, banks, accountant, IT coudlnt access there offices for many "months" not weeks. I think the comparison is very valid. I would say about the same percentage of people work in the CBD of both cities.
The Australian government seemed to be far more concerned about mining (economically) than Brisbane itself, and I can see why.
In seasonally adjusted terms, Mining (down 6.1%) contributed -0.6 percentage points, while Manufacturing (down 2.4%) and Agriculture (down 8.9%) both contributed 0.2 points to the decline in GDP.
So like I said, it wasn't just mining, although it was the largest contributor to the weakness.
I do find it a little strange that the figure of 50,000 illegal immigrants has been the figure now for a good couple of decades.
Does it really mean anything or is it just a thrown about figure i wonder?
I do find it a little strange that the figure of 50,000 illegal immigrants has been the figure now for a good couple of decades.
Does it really mean anything or is it just a thrown about figure i wonder?
I always thought it was the number of visa overstayers at any given time. And that it was different people that made up most of that number. Even if you're late to leave the country by a day, you're in that 50k number, even if you do actually leave of your own accord or extend your visa with a bridging visa.
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